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Bloomberg Television was created in 1994 under the initial name Bloomberg Direct as a channel delivering extensive business and capital market news coverage. The main headquarters of the channel are located in New York City (USA), namely in Bloomberg Tower in Manhattan, since the channel is owned by Bloomberg L.P.
In 2011, Bloomberg Television made a deal with Gas Station TV (GSTV) with the goal of broadcasting financial and business news on LCD screens that were becoming a norm at various fuelling stations. The channel remained the key provider of business news for GSTV till 2018.
Bloomberg Television launched its HD version in 2011. Unlike many other channels, Bloomberg Television downscales its HD programmes to be shown on its standard-definition feed.
The channel attempts to balance the international approach to news selection with providing enough regional content to keep the subdivisions relevant. News reports are produced by big global teams for large geographic regions in a uniform mode, but each separate subdivision features local advertising and a news ticker on the screen.
Bloomberg Television extensively relies on all available distribution channels, including various social media and platforms. Some news updates can be accessed off-air on Facebook and Twitter, and the channel runs its official YouTube account where features and regular programmes are rerun for the convenience of the audience.
Initially, Bloomberg Television had regional headquarters in many individual countries across the globe, but in 2009 many smaller subdivisions were closed, like ones in Germany, Spain and France. Instead, the channel focused on building its international universalised image with key broadcasting studios in New York, London and Hong Kong.
Bloomberg Television was long known for presenting news in format of a big data screen that took up practically all space of the television screen, leaving little space for presenters or other information pieces. In 1998, a moving ticker was introduced and the data screen size reduced. In 2008, data screen was removed completely.
The European subdivision of Bloomberg Television located in London was once accused of breaching Ofcom standards for broadcasting. In the run-up to the 2005 general elections, the channel gave air time to the Labour Party but did not provide similar amounts of time to other parties. It was considered to be pro-Labor party bias, which was unacceptable because of the approaching elections.
In 2015, Bloomberg Television partnered with a Canadian channel to launch Bloomberg in Canada. In two years, the partnership ended and the channel was closed. Instead, Bloomberg Television joined efforts with Business News Network and gave it the right to officially distribute its content in Canada in the co-branding format of BNN Bloomberg.
The channel is named after Michael Bloomberg, owner of Bloomberg L.P., businessman, politician and philanthropist. He made a fortune by designing and providing the premium-quality electronic system for delivering real-time business information to the Wall Street companies and extended this practice into the world in the shape of a business news channel.